If the government implements a price ceiling on insulin,this will have all of the following effects on the market for insulin except

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A price ceiling is a government intervention to keep the price of a certain product below market equilibrium. This leads to excess demand and a shortage of the product. In the case of insulin, a price ceiling would make it more affordable for customers, but it would lower producer surplus and reduce the incentive for producers to continue manufacturing insulin. This would cause an inefficient allocation of resources and an increase in deadweight loss. However, it would not lead to a more efficient equilibrium.

If the Government Implements a Price Ceiling on Insulin,this Will